Thanks I'll be mindful when looking at Zillow ...is that the same for Trulia too?? You can't beat the MLS...also didn't Zillow artificially mess with the market? Like I heard a guy sold his home based on an inflated number cuz Zillow inflated across the country..weren't they trying to buy up homes to sell at the higher prices...anyway the house didn't move and the guy bought his house back a greatly reduced price and made a bag of $$
I had no idea that Zillow and maybe other real-estate companies would print such inaccurate information without really doing the research on the homes and properties that they are selling. I always looked through Zillows listings when I was in the market looking for a home, but I did not use them in my finial choice.
Yeah, I own a condo in California where Zillow totally underestimate the value because 10% of the condominiums are special below market condos in a government program so you have to be low income in order to qualify to buy them. However, every time one of those sells Zillow dramatically drops the values of all the regular market, based condos in the building. So what you have paid $500,000 15 years ago and is now worth $650,000 Zillow seas the below market sales of $250,000 and drops the values of the ones that were worth 650 K in the regular market.
I can’t say that I agree with this video as this hasn’t been my experience. Maybe it varies depending on area but Zillow has been fairly accurate where I was looking. Of course, Zillow shouldn’t be your only source. But used in conjunction with a good realtor along with the CMA & ARV, you can get a good assessment of a property. Zillow gives you the ability to click on a map and go into Lot Lines which shows property lines, neighborhood and last sold values along with other information.
In all fairness appraisers don't know if the houses sold in the neighborhood that sold need work and/or renovations. Zillow where we have lived is under estimates homes. You are absolutely correct zillow can't estimate homes that are not cookie cutter homes on tiny lots.
Appraisers have access to the MLS which has the interior photos. This information can help determine if the house has been renovated or not. Zillow can’t do that.
Thanks I'll be mindful when looking at Zillow ...is that the same for Trulia too?? You can't beat the MLS...also didn't Zillow artificially mess with the market? Like I heard a guy sold his home based on an inflated number cuz Zillow inflated across the country..weren't they trying to buy up homes to sell at the higher prices...anyway the house didn't move and the guy bought his house back a greatly reduced price and made a bag of $$
I am glad I watched this… I use to follow Zillow.
I had no idea that Zillow and maybe other real-estate companies would print such inaccurate information without really doing the research on the homes and properties that they are selling. I always looked through Zillows listings when I was in the market looking for a home, but I did not use them in my finial choice.
So happy to see my pharmacy in your Video ... Little Acorn Pharmacy... Sharma
Yeah, I own a condo in California where Zillow totally underestimate the value because 10% of the condominiums are special below market condos in a government program so you have to be low income in order to qualify to buy them. However, every time one of those sells Zillow dramatically drops the values of all the regular market, based condos in the building. So what you have paid $500,000 15 years ago and is now worth $650,000 Zillow seas the below market sales of $250,000 and drops the values of the ones that were worth 650 K in the regular market.
I can’t say that I agree with this video as this hasn’t been my experience. Maybe it varies depending on area but Zillow has been fairly accurate where I was looking.
Of course, Zillow shouldn’t be your only source. But used in conjunction with a good realtor along with the CMA & ARV, you can get a good assessment of a property.
Zillow gives you the ability to click on a map and go into Lot Lines which shows property lines, neighborhood and last sold values along with other information.
The zestimate is a joke many times. It can hurt people if they take it as official data.
It’s scary how many people believe it as official data.
In all fairness appraisers don't know if the houses sold in the neighborhood that sold need work and/or renovations. Zillow where we have lived is under estimates homes. You are absolutely correct zillow can't estimate homes that are not cookie cutter homes on tiny lots.
Appraisers have access to the MLS which has the interior photos. This information can help determine if the house has been renovated or not. Zillow can’t do that.
Flippin' hate Zillow and I'm not a real estate agent.
It’s the worst.
aloha
zillow needs to start using AI